Mexico - 01

Mexico: Rounds 1.2 and 1.3 Obstacles: Implications for IOCs

Rounds 1.2 and 1.3 may once again make headlines in Mexico – and not for encouraging reasons. According to Horizon contacts at CNH and SENER, some consortiums that won blocks in the rounds are struggling to begin operating their projects. Though the government officials declined to disclose the names of the companies, they admitted that at least one company from Round 1.2, and another six from Round 1.3, are facing financial issues, despite the guarantees they submitted to win their blocks. They added that, on average, the companies lack $70mn to back their projects.

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